What does OMERS mean in State & Local?
This page is about the meanings of the acronym/abbreviation/shorthand OMERS in the Governmental field in general and in the State & Local terminology in particular.
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What does OMERS mean?
- OMERS, officially the Ontario Municipal Employees Retirement System, is a pension fund created by statute in 1962 to handle the retirement benefits of local government employees in the province of Ontario, Canada. It has become one of the largest institutional investors in Canada. Over the past 20 years approximately 2/3 of the capital added to the pension fund has been through investment returns, while about 1/3 has been added by contributions split evenly between employees and employers. As of December 2011, OMERS has about 55 billion Canadian dollars worth of net investment assets. OMERS represents 947 employers and almost 420,000 members, retirees and survivors, including firefighters, police, emergency services staff, Children's Aid Society workers, school board staff, and transit and hydro workers.